Cryptocurrencies have really taken a wild ride in 2017. The total aggregate value of all virtual currencies lumped together was just about $17.7 billion dollars at the start of the year. That number skyrocketed to $515 billion by December 14th. This leaves us wondering which alt-coins will continue to surge, and which ICO should be at the top of everyone’s list.
Several digital currencies saw a fire lit under them over the course of the year, no doubt driven by increased attention towards the crypto world, and the potential in some of its underlying technology. Investors who flocked to Ethereum thanks to its blockchain infrastructure saw the token shoot up by at least 8,500% over the course of the year.
Even Verge, which was pretty stagnant for most of 2017, leapt into the top 30 virtual currencies, perhaps thanks to some well-timed Tweets by John McAfee, and interest towards its privacy aspects. The Motley Fool wrote on Friday that anyone who invested $117 in Verge at the start of the year would now be a millionaire.
But even amid a year of massive growth, many concerns have popped up in the last couple of days due to a massive price collapse by Bitcoin. Arguably the most well known digital currency, Bitcoin has seen a 30% price drop over the last week (across Dec 21-22) after surpassing $19,000 last Sunday.
It was sitting at just about $14,000 on the early hours of December 23 while some speculate whether Bitcoin is on track for a full recovery, and then some, or if Bitcoin is due for another crash. There’s been a lot of discussion about what has caused such a massive drop (as many other virtual currencies have seen their prices fall as well).
Some believe investors are cashing out to spend for the holidays.
Others are thinking people are starting to turn to more altcoins as an investment medium. Still, some blame massive confusion and mayhem with CoinBase surrounding Bitcoin Cash in part.
There’s still a lot of optimism in the cryptocurrency and blockchain world despite the recent price slumps. Initial Coin Offerings continue to roll out on a weekly basis as teams and companies look to utilize the power of the blockchain across a variety of innovative projects.
But where there’s money to be made, scams are always around. The US SEC halted an ICO in early December that they allege has fraudulently promised a 13-fold profit in less than a month. The company, PlexCorps, had raised millions of dollars from investors. Many news outlets and even some government entities have written reports and briefings warning against potential ICO scams.
Scams aside, experts are optimistic that there are plenty of good ICO investments out there. ICOs helped raise over a billion dollars for cryptocurrency ventures in Q3 2017 alone. We’ve kept our eye on three ICOs coming out this week that appear to have some interesting prospects. We’re not financial advisors, so we’re just laying out the information we’ve aggregated from various online resources. You’ll need to consult with a qualified financial advisor if you’re serious about putting money into the cryptocurrency or ICO world.
Here’s what you need to know to start gathering information on these three HOT ICOs coming out this week. In the rest of this article, we’ll go into depth on carVertical (cV), Daneel (DAN) and MimiCoin (MiM) so that you can understand the underlying value of each, and why they might be worth investigating.
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